The Rub, Spill, and Ton Corporations File Federal Income Tax

question 62

Multiple Choice

The Rub, Spill, and Ton Corporations file Federal income tax returns on a consolidated basis. The group's tax return currently is under audit. Under a valid tax­sharing agreement, each corporation is liable for one­third of the group's consolidated tax liability. The affiliates have agreed with the auditor that the group's unpaid liability for the year is $90,000. Because of an incorrect tax return position, another $3,000 in interest and an $18,000 penalty is attributable solely to Ton. At present, only Rub is solvent and has the cash with which to make such a tax payment. What is the maximum amount for which the government could be successful in forcing Rub to satisfy the outstanding liabilities of the consolidated group?

• A) $0
• B) $90,000
• C) $93,000
• D) $108,000
• E) $111,000

Recognize the relationship between agriculture and critical environmental issues like soil degradation and water scarcity.

Understand the role of traditional agriculture and its comparison with large-scale modern farming techniques in global food security.

Understand the impacts of malnutrition on human health, including increased susceptibility to infections and deficiency diseases.

Describe various agricultural techniques to increase crop yields, including crossbreeding, genetic engineering, and polycultures.

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Definitions:

Contraception Mandate

Refers to laws or policies requiring health insurance plans to provide coverage for birth control with no cost to the insured.

Religious Liberty

The freedom of individuals to believe in, practice, and promote their religion of choice without interference or restriction by the government.

Abortion Status 1880

Historical perspective or policy status regarding abortion in the year 1880, reflecting societal and legal viewpoints of that time.

Federal Law

Legislation enacted by the national government of a country, which applies to all its residents and territories.